Perspective: The boost in UAE's non-oil trade value
Source: Frost & Sullivan , Author: Virein Kumar Yadlapalli
Posted: Thu July 5, 2012 5:14 pm

UAE. According to Frost & Sullivan, the boost in the trade value is a healthy sign of recovery for the United Arab Emirates (UAE) economy and a strong announcement to the global economies about the country's rebound from the lows of financial crisis.

Also, the fact that the imports have witnessed a growth by over 20 per cent showcases the retrieval of erstwhile demand patterns (pre-recession) and increased consumption. It also shows clear signs of growing per capita spend and revitalising economy. Furthermore, the UAE's investment and government’s  initiatives to establish itself as an exporter on the global landscape are auguring well for the country’s economy.

India tops the list of bullion trade partners of the UAE, a significant part of the non-oil trade, followed by Switzerland, Iraq and Belgium. Given the volatile global economy and the consideration for gold (major part of the bullion trading) as a safer investment, the bullion business is expected to sustain its position in the UAE trade.

In addition, China and the USA continue to be the largest source for electrical and electronics machinery imports. While the UAE’s thrust towards being a well diversified industrialised nation is expected to fuel more opportunities, the growing preference for Korean Engineering, Procurement and Construction (EPC)/ Consultants in the industrial projects is also expected to facilitate increased trade value with Korea.

While the trade embargo on Iran, Euro zone crisis and economic uncertainty in India and China, can be expected to influence the trade positions. UAE’s investment in improving trade relations with other global economies is anticipated to bode well in the longer run.

Note: Perspective by Virein Kumar Yadlapalli, Program Manager, Automation and Electronics Practice, Middle East and North Africa, Frost & Sullivan.

Frost & Sullivan, a Growth Partnership Company, enables clients to accelerate growth and achieve bestin- class positions in growth, innovation, and leadership.

For more information, please visit www.frost.com.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: July 23, 2014
UAE. HNW business owners in Asia, Africa and the Middle East are highly focused on growing their business, and personal wealth ambitions come second, finds a study by Standard Chartered Private Bank.
date:Posted: July 23, 2014
UAE. Colliers' Capital Flows Quarterly Report highlights Middle East investors' appetite for alternative product including hotels and serviced apartments.
date:Posted: July 22, 2014
INTERNATIONAL. "Whether Putin is in real trouble is not something I can be certain of, but too many things have gone wrong for him lately for me not to consider the possibility. And as in any political crisis, more and more extreme options are contemplated if the situation deteriorates."
UAE. HNW business owners in Asia, Africa and the Middle East are highly focused on growing their business, and personal wealth ambitions come second, finds a study by Standard Chartered Private Bank.
dhgate